LIVERPOOL have surged ahead of Manchester United and Juventus in the race for Radamel Falcao after offering Monaco a £12m loan deal.

Liverpool have made a £12m loan bid for Monaco star Radamel Falcao[GETTY]

According to French radio station RMC Liverpool chiefs have given the green-light for an audacious season-long loan deal worth £12m.

The offer would include an automatic purchase clause of £40m after the conclusion of the Colombian's loan.

The news will galvanise Liverpool fans who are desperate to see Luis Suarez replaced by a genuine world class forward.

It has also been reported that Falcao will accept a significant cut to his £230,000 weekly pay to make the switch away from domestic side Monaco, but until then, the Kop side will be forced to cover his astronomical wages.

If the loan deal is completed, Falcao will be available for Liverpool's much anticipated return to the Champions League.

Juventus and Manchester United have been left standing with the news of Liverpool's bid, and will have to flex their financial muscles to stand any chance of competing with the Merseyside club.